October 11, 2012
Hermès, Gucci put Indonesia on their wish list
Indonesia's growing ranks of wealthy consumers are enticing more luxury goods makers such as Hermès, LVMH and Gucci, per the Wall Street Journal.
Mercedes loses ground to BMW, Audi in luxury sales race
Daimler AG's Mercedes-Benz is falling further behind in the luxury car contest. Burdened by a disjointed strategy in China, sluggish expansion of entry-level models and an aging S-Class sedan, the once-dominant upscale nameplate has slipped deeper into third place. The Mercedes sales gap to Volkswagen AG's Audi has more than doubled within a year, hampering chief executive Dieter Zetsche’s pledge to retake the lead, Bloomberg reports.
Golden week boosts sales in China
While China’s retail sales experienced double-digit growth during the recent Golden Week holiday, the country’s domestic tourism sector witnessed the biggest boom over the eight-day break, with record numbers of Chinese flocking to popular tourist destinations across the country, said WWD.
How the BRICs are reshaping the luxury alcohol industry
Sales of luxury alcohol are growing in the BRICs, as both disposable incomes and alcohol consumption increase. But while the developed countries have similar consumption drivers, this is not the case in the BRICs, according to the Sacramento Bee.